Home Leisure Time Knight Frank secures biggest Team Valley office letting for over a decade

Knight Frank secures biggest Team Valley office letting for over a decade

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5th Avenue Plaza

Gateshead-based slots and gaming company Luxury Leisure Talarius has taken 15,000 sq. ft. of office space on Team Valley – which is the largest letting on the business park for over ten years.

Knight Frank Newcastle secured the deal on a 15-year lease at the refurbished 5th Avenue Plaza, on behalf of the landlord.

Luxury Leisure Talarius, which trades over 230 gaming venues nationally under the brand name Admiral, is relocating from elsewhere on the Team Valley to the revamped 5th Avenue Plaza to accommodate its recent expansion. The firm will be moving in to its new premises at the beginning of 2019.

Global Austrian gaming giant Novomatic acquired Luxury Leisure in 2014 followed by Talarius in 2016.

The firm’s new headquarters will accommodate the consolidated and expanded management team, including some employees who will be moving up to the North East from Talarius’s Milton Keynes office. The total staff headcount nationally is now 2,100.

The easily accessible offices at 5th Avenue Plaza have a stunning refurbished double height reception, flexible open plan floorplates, fully refurbished office space, superb natural light, shower facilities and a high car parking ratio of 1:250 sq. ft.

Patrick Matheson, partner at Knight Frank, said: “Luxury Leisure Talarius has taken 15,000 sq. ft of the 20,000 sq. ft. that is available at 5th Avenue. To secure such a significant letting on the Team Valley is really exciting.

“The communal areas, including the reception, definitely have the wow factor and the high standard of the refurbishment meant we had no issues with interest from potential occupiers.”

There is now just 4,300 sq. ft. available to let at 5th Avenue Plaza.

CEO Luxury Leisure Talarius, Tom Allison, said: “We made the decision to remain in the North East because of the wealth of industry expertise we have locally and we wanted to stay on the Team Valley because of its proximity to the A1 and we know the location works for us.

“5th Avenue Plaza is a light, bright contemporary space that will be the perfect base for us to run our high street and seaside gaming venues.”

Luxury Leisure Talarius was advised by Naylors.